Capital Market Supervisory Board concerning Offer for Sale of Bonds Denominated in Foreign Currency in the Kingdom of Thailand and Notification of the Capital Market Supervisory Board concerning Offer for

features of stock markets are highest, where skewed payoffs are preferred to educated gambles. III. Data and Methodology Datastream country gambling indexes in local currency will be used to measure the

“credit derivatives” derivatives (credit event) P a g e 6 | ( ) KTFFE86 86 Krung Thai Fixed Income FIF Enhanced86 Not for Retail Investors “credit event” “credit rating” CRA “currency risk” FX “delta

(Currency Risk) 2-16

with the depreciation on Great British Pound Sterling against Thai Baht currency. Under the current terms, sponsorship contracts with CFC and EFL are ended in June 2021 and May 2022, respectively. Yet

in year 2020, Thai businesses will be confronted with various problems including stronger Thai currency, drought crisis, increase of minimum wages and current epidemic disease, which are factors

due to effective in cost management and currency appreciation than the previous year resulting in lower product costs. In the year 2019, the exchange rate was between 30.33 – 32.53 Baht per 1 US dollar

investment which depending on government policies, direction of Baht currency and delay of 2020 government budget approval. Also, Coronavirus outbreak and the droughts in Thailand have been affecting to the

foreign currencies are hedged to reduce currency risk. Profit In 1Q17, EBITDA was Bt17,347mn increasing 29% YoY and 15% QoQ from improving service revenue, lower regulatory fee and softened handset

currency fluctuation whereas foreign debts were all fully hedged. Profit In 3Q17, EBITDA was Bt17,589mn, increasing 15% YoY and 2.8% QoQ. This was underpinned by a decent growth in revenue with softer